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  "docSlug": "f06b0b5d2079",
  "documentTitle": "Soleno Therapeutics (SLNO)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-08-15 00:00:00",
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  "pageNumber": 119,
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  "notes": "The slide uses a red box to highlight the specific comparison between placebo and pooled data at week 13.",
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      "kind": "callout",
      "text": "Highly significant increase in pre-T2D and T2D. Devastating impact observed as early as 3 months post-treatment. HbA1c separation between treatment group vs. placebo clearly visible at week 13. Progressive deterioration of glycemic control over time",
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      "text": "Soleno conceals the exact change in treatment group vs. placebo by showing only a pooled HbA1c average.",
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      "text": "Stacked bar chart showing HbA1c distribution (Normal, Pre-diabetes, T2D) from W0 to W156.",
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      "kind": "paragraph",
      "text": "We use the same data (Figure 1 from the 2024 poster) to estimate the distribution of prediabetes (orange) and T2D (red) over time – every single timepoint shows highly significant increase in pre-T2D and T2D vs. baseline. We repeat - every timepoint. A devastating impact is observed as early as 13 weeks post-treatment; and a progressive deterioration of glycemic control as shown in red for increasing T2D. Soleno conceals the exact change in treatment group vs. placebo by showing only a pooled HbA1c average. However, data buried across its publications allows us to estimate HbA1c for each group, showing that placebo HbA1c didn’t change while the treatment indicates a devastating pre-T2D and T2D safety signal.",
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      "text": "Source: https://investors.soleno.life/static-files/27318113-e299-408f-ba14-0b05114f37bc; HbA1c estimates based on Scorpion Capital probability analysis, using a few reasonable assumptions as well as HOMA-IR, various values in the OLE paper, and other sources.",
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      "kind": "title",
      "text": "HbA1c estimates based on our probability analysis",
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